MILAN — The Web3 craze is not waning. Quite the opposite — its fascination and potential are trickling down the supply chain.
Storied Italian textile mill Olmetex is stepping into the non-fungible token game by partnering with Web3 firm Another-1, which orchestrated a “phygital” project to celebrate street art, fashion and the digital realm.
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Named Drip-Lab, the NFT and physical project is centered on famed graffiti artist Zoow24’s mural “The Wall,” which he painted on a wall of Olmetex’s headquarters in Como, Italy, as well as on his illustrated characters, all turned for the occasion into NFT renditions.
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Pre-mint for the Drip-Lab monster NFTs officially kicks off Wednesday at 1 p.m. EST while the general sale starts a day later.
Each NFT comes as a profile picture, or PFP, selling for $150 and its purchase unlocks the opportunity to redeem a customized windbreaker crafted by Olmetex and known as the “writer’s jacket” for $350.
Each NFT and PFP owner will get a complimentary NFT depicting “The Wall” mural in Como, as well as further benefits to be revealed at a later date. The latter include a 25 percent cash back in $AN1 tokens, a cryptocurrency created by Another-1 to access its Web3 community.
“Olmetex has decided to make the facade of its textile company available to graffiti artists, because it has always believed in the close union between fashion and art… With these NFTs and the physical redemption of the waterproof jacket produced with our own fabrics, Olmetex sets itself the goal of making an art project tangible and fashionable,” said Olmetex managing director Beatrice Breschi, highlighting the company’s flexibility and openness to embrace market revolutions.
“We’re excited to see our near 70-year-old mill involved in a Web3 project that creates a new and important way to enjoy art and fashion. We have always been future-focused with our fabric innovation, and now we are taking this mindset to a collaboration that takes fashion, art and fabric into the next decade,” she added.
Owners of the windbreaker — a high-tech garment available in five different iterations each bearing waterproof thermo-reactive dual-colored fabrics and featuring a Zoow24 monster on the inside lining — will unlock the possibility to take part in Another-1’s “Flex to Earn” program. Equipped with an NFC tag, the shell jacket is equipped with an NFC tag which not only provides authentication but also allows to earn Web3 rewards anytime the garment is “flexed,” the Web3 term for wearing, in different physical and digital environments.
“Our mission is to push the envelope and radically change the way art is produced and traded. By establishing the Drip-Lab project along with Olmetex and renowned artists such as Zoow24, we are proving that graffiti is a medium that can live on and be appreciated forever. This is a historical crossover of art, fashion, and groundbreaking technology and we’re excited for what’s still to come,” said Marco Staglianò, chief executive officer of Another-1.
“Working with a renowned fabric manufacturer like Olmetex, we also have the opportunity to tie physical fashion to this story of street and digital art. This is a first for the world and we’re excited to see how these passionate communities of street art and streetwear collectors will respond,” he added.
The project marks a new fashion activation championed by Another-1, which partnered last year with shoemaker Casadei to mark the milestone of the signature Blade heels with the release of limited-run wearable NFTs.
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